Iceland's most active volcano - Grimsvotn has started erupting on Saturday in Reykjavik.

Iceland's Meteorological Office confirmed that an eruption had begun at the Grimsvotn volcano, accompanied by a series of small earthquakes. Smoke could be seen rising nearly seven miles from the volcano, which lies under the uninhabited Vatnajokull glacier in southeast Iceland.

As standard procedure, a 120 nautical mile (220km) no fly zone has been put in place.

The smoke and ash plume reached nearly 7 miles above the glaciers and small earthquakes were triggered around the volcano.  The ash cloud is not said to be likely to cause any major flight traffic issues like those seen last year when Eyjafjallajokull erupted.

"The ash in Grimsvotn is more coarse and not as likely to cause danger as it falls to the ground faster and doesn't stay as long in the air as in the Eyjafjallajokull eruption.", said Paul Einarsson, a geophysicist at the University of Iceland.

Osama bin Laden, the mastermind behind the worst terrorist attacks in American history, has been shot dead in his luxury hideout in Pakistan after a decade long manhunt.

The Al-Qaida leader was killed early Monday morning in a firefight with U.S. Forces.

"Justice has been done," President Barack Obama said in a dramatic announcement at the White House.

Intelligence officials believed the $1 million home was custom-built to harbor a major terrorist. CIA experts analyzed whether it could be anyone else, but time and again, they decided it was almost certainly bin Laden.

"His death does not mark the end of our effort. There's no doubt that al-Qaida will continue to pursue attacks against us. We must and we will remain vigilant," Obama added.

Moments after the announcement a worldwide travel alert had been issued with U.S Embassies on alert in case of an 'anit-American' backlash.

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